Dying without a will can expose your estate to many legal challenges. The most likely outcome is that your estate will go to the state probate process. This means that your stated beneficiaries may receive much less than the amount that you wished them to have. It can also be a process that lasts for years and wastes a great deal of time and money.
What Are the Most Likely Results?
A number of unfortunate events can happen to your estate if you have not seen fit to protect it with a will or trust. If you are married but have no children, your spouse will usually inherit most or all of your estate. If you are married and have children, your property will usually be divided between them.
The important thing to keep in mind is that all of these decisions will be reached by a probate court. The amount of time that it takes for the court to reach a decision may be far longer than your heirs will find necessary or tolerable.
The decisions that are reached by a probate court may not be to everyone’s liking. This can lead to many years of ongoing disputes. The stage will thus be set for legal action that eats up most of the resources that you leave behind.
What Is the Best Alternative to Dying Intestate?
Your best bet will be to do all that you can to avoid dying intestate. A lawyer from the firm of Beckstrom & Beckstrom can help to create a will or living trust. This will be the document that expresses your wishes. It can cover such topics as how you desire your property to be distributed after you have passed.
You can also make use of other methods to transfer your property. You can name beneficiaries for your life insurance, retirement accounts, or bank accounts. You can also name those whom you wish to hold your property in joint tenancy. A lawyer from our firm can help to ensure that your property goes to the people you choose.
